Microsoft launches mobile wallet in US

US tech giant Microsoft has finally introduced the mobile wallet feature in its mobile app. However, for now, the feature is only available for Windows Insiders using build 14360 or higher.Komal Mohan | TOI Tech | Updated: June 23, 2016, 10:35 IST

NEW DELHI: US tech giant Microsoft has finally introduced the mobile wallet feature in its mobile app. However, for now, the feature is only available for Windows Insiders using build 14360 or higher. Calling it a 'cloud-based payment technology,' the company announced the app in its official blog post.

According to the blog, the service will be initially rolled out in the US and will be compatible with Lumia 950, 950 XL and 650 smartphones. It will also be available at more than a million retail locations with the Microsoft Wallet logo at the point of sale.

As of now, Microsoft has partnered with a few banks for the service. These include Bank of America, Chase, US Bank and a few others

Numerous other tech giants such as Samsung, Apple and Google have had their mobile payment wallets for many years now. However, so far none of them have made it to India. It would be good if Microsoft can make the Wallet available in India. However, we’ll have to wait and see when the feature is rolled out in India.

Both Apple and Samsung have been investing in mobile payments, in order to defend their premium product prices.

Apple Pay is currently available on models newer than iPhone 6 and the Apple Watch. Samsung Pay is available on Samsung Galaxy S6 and Galaxy Note5.

Microsoft has been on quite an acquisition spree lately. The company recently announced that it would be acquiring professional social networking service LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn's net cash. The deal is expected to close this calendar year, subject to approval by LinkedIn's shareholders, satisfaction of certain regulatory approvals and other customary closing conditions.

The US-based tech giant also acquired Wand Labs, a startup focused around building messaging technology for apps. Wand Labs was founded in 2013 by IIT-Delhi alumnus Vishal Sharma, who was previously the vice president, products at Google.